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February 25, 2015 Item No. ______
PARTIAL RELEASE OF DEVELOPMENT CONTRACT
MARCH 2, 2015 CITY COUNCIL MEETING
PROPOSED ACTION
Staff recommends adoption of the following motion: Move to approve the partial
release of development contract recorded against Outlot A, First Park Lakeville.
Adoption of this motion will formally release the property owner from the original
development contract recorded against the property title.
OVERVIEW
Setzer Properties, owner of the property included in the FedEx Lakeville plat recently
approved by the City Council, are requesting that the underlying development contract
assigned to Outlot A, First Park Lakeville, be released allowing said development contract to
be released from the property title. The City Council approved the final plat and
development contract for First Park Lakeville on June 16, 2008. Staff has determined that
the requirements and obligations of the development contract have been met. The City
Attorney drafted the attached release of development contract.
PRIMARY ISSUES TO CONSIDER
How will the partial release of development contract affect the property? The requirements of
the original development contract have been satisfied. Release of the development contract and
assessment agreement will free the property title from requirements of the original development
contract and assessment agreement approved by the City Council in 2008.
SUPPORTING INFORMATION
◊ Partial release of development contract
◊ February 10 and February 19, 2015 emails requesting the release of the First Park
Lakeville development contract.
___________________________________
Frank Dempsey, AICP, Associate Planner
Financial Impact: $ None Budgeted: Y/N ____ Source: __________________________
Related Documents (CIP, ERP, etc.): _First Park Lakeville development contract____________________
Notes: Envision Lakeville Community Values: Diversified Economic Development__________________
PARTIAL RELEASE OF
DEVELOPMENT CONTRACT
PARTIAL RELEASE OF DEVELOPMENT CONTRACT granted this ______ day
of _________________, 2015, by the CITY OF LAKEVILLE, a Minnesota municipal
corporation (“City”).
Recitals
WHEREAS, the City and FR/CAL Interstate South, LLC, a Delaware limited liability
company, entered into a Development Contract for the plat of First Park Lakeville, dated June 16,
2008 and filed for record with the Dakota County Recorder on December 30, 2008 as Document
No. 2628759 (“Development Contract”).
WHEREAS, the City has been requested to release and discharge Outlot A, First Park
Lakeville, except the most easterly 236.00 feet of said Outlot A, Dakota County, Minnesota
(“Subject Property”) from the Development Contract.
WHEREAS, all requirements of the Development Contract have been met as to the Subject
Property and there is no longer a need to have the Development Contract recorded against the
Subject Property.
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
The Subject Property is hereby released and discharged from the Development Contract.
CITY OF LAKEVILLE
BY: ______________________________________
Matt Little, Mayor
(SEAL)
AND:____________________________________
Charlene Friedges, City Clerk
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STATE OF MINNESOTA )
)ss.
COUNTY OF DAKOTA )
The foregoing instrument was acknowledged before me this ________ day of
______________, 2015, by Matt Little and by Charlene Friedges, the Mayor and City Clerk of the
City of Lakeville, a Minnesota municipal corporation, on behalf of the corporation and pursuant to
the authority granted by its City Council.
__________________________________
NOTARY PUBLIC
THIS INSTRUMENT WAS DRAFTED BY:
Campbell Knutson
Professional Association
1380 Corporate Center Curve, Suite #317
Eagan, Minnesota 55121
651-452-5000
AMP/cjh
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